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IG Petrochemicals Ltd.
(IGPL)
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Rating:47Neutral
Price Target:
₹426.00
▲(8.09% Upside)
Action:Reiterated
Date:05/21/26
The score is primarily held down by weak recent financial performance, with a sharp profitability reset and inconsistent cash generation including negative free cash flow. Technicals are moderately supportive due to strength versus longer-term moving averages, while valuation is mixed—supported by the dividend yield but constrained by negative earnings (negative P/E).
Positive Factors
Specialized PAN manufacturer
IGPL’s focused business model producing phthalic anhydride creates durable specialization and customer relationships across multiple end markets (PVC, resins, plasticizers, coatings). That technical know‑how and customer exposure supports steady volume demand and barriers to entrants over months.
Negative Factors
Sharp profitability reset
A pronounced earnings collapse reduces retained earnings and return on equity, undermining reinvestment capacity and dividend sustainability. Persistent margin compression also weakens predictability of future earnings and increases reliance on commodity price cycles for recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized PAN manufacturer
IGPL’s focused business model producing phthalic anhydride creates durable specialization and customer relationships across multiple end markets (PVC, resins, plasticizers, coatings). That technical know‑how and customer exposure supports steady volume demand and barriers to entrants over months.
Read all positive factors
IG Petrochemicals Ltd. (IGPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹13.98B
Dividend Yield2.59%
Average Volume (3M)1.40K
Price to Earnings (P/E)635.2
Beta (1Y)1.26
Revenue Growth-12.75%
EPS Growth-97.97%
CountryIN
Employees517
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)10.56
Shares Outstanding30,794,850
10 Day Avg. Volume1,033
30 Day Avg. Volume1,400
Financial Highlights & Ratios
PEG Ratio-4.70
Price to Book (P/B)0.77
Price to Sales (P/S)0.53
P/FCF Ratio-12.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.6
Revenue Forecast (FY)₹25.41B
IG Petrochemicals Ltd. Business Overview & Revenue Model
Company Description
Based in Mumbai, India, and founded in 1988, I G Petrochemicals Limited operates as a producer and global distributor of organic chemicals. Its product lineup features phthalic anhydride, an essential component for plasticizers, alkyd resins, pain...
How the Company Makes Money
IGPL primarily makes money by manufacturing and selling phthalic anhydride (PAN) to industrial customers (typically resin, plasticizer, and chemical manufacturers). Revenue is largely volume-driven (capacity utilization and sales mix) and price-dr...
IG Petrochemicals Ltd. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
67
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.74B | 19.25B | 22.06B | 20.94B | 23.52B | 18.83B |
| Gross Profit | 4.84B | 2.57B | 5.19B | 1.33B | 5.52B | 6.28B |
| EBITDA | 1.42B | 946.27M | 2.19B | 1.36B | 3.40B | 4.14B |
| Net Income | 325.08M | 22.19M | 1.09B | 395.13M | 2.00B | 2.65B |
Balance Sheet | ||||||
| Total Assets | 22.60B | 23.00B | 22.11B | 21.35B | 19.92B | 16.51B |
| Cash, Cash Equivalents and Short-Term Investments | 2.84B | 2.59B | 2.67B | 2.31B | 2.60B | 1.75B |
| Total Debt | 4.02B | 3.62B | 2.69B | 3.68B | 2.54B | 1.73B |
| Total Liabilities | 9.54B | 9.68B | 8.72B | 8.88B | 7.57B | 5.89B |
| Stockholders Equity | 13.06B | 13.33B | 13.39B | 12.47B | 12.35B | 10.62B |
Cash Flow | ||||||
| Free Cash Flow | -1.18B | -792.00M | 1.24B | -1.37B | -73.45M | 94.15M |
| Operating Cash Flow | -385.86M | 837.73M | 2.61B | 371.93M | 2.33B | 1.09B |
| Investing Cash Flow | -177.49M | -1.09B | -919.97M | -1.15B | -2.55B | -1.06B |
| Financing Cash Flow | 10.33M | -145.49M | -1.38B | 479.26M | 206.14M | -187.97M |
IG Petrochemicals Ltd. Technical Analysis
Positive
394.10
Price Trends
440.38
Positive
401.99
Positive
401.44
Positive
Market Momentum
4.75
Negative
54.66
Neutral
58.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IGPL, the sentiment is Positive. The current price of 394.1 is below the 20-day moving average (MA) of 443.90, below the 50-day MA of 440.38, and below the 200-day MA of 401.44, indicating a bullish trend. The MACD of 4.75 indicates Negative momentum. The RSI at 54.66 is Neutral, neither overbought nor oversold. The STOCH value of 58.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:IGPL.
IG Petrochemicals Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹7.29B | 10.05 | ― | 0.81% | -2.99% | 10.18% | |
70 Outperform | ₹11.12B | 8.56 | ― | 0.82% | 13.96% | 343.65% | |
65 Neutral | ₹13.05B | 18.42 | ― | 0.52% | 21.13% | 18.86% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | ₹9.20B | 175.90 | ― | 1.07% | -14.55% | -74.70% | |
47 Neutral | ₹13.98B | 635.21 | ― | 2.59% | -12.75% | -97.97% | |
43 Neutral | ₹22.16B | -12.12 | ― | 0.43% | -15.32% | -236.84% |
* Basic Materials Sector Average
IN:IGPL
IG Petrochemicals Ltd.
453.90
-16.43
-3.49%
IN:FAIRCHEMOR
Fairchem Organics Ltd
730.30
-251.36
-25.61%
IN:KOTHARIPET
Kothari Petrochemicals Ltd.
131.95
-45.35
-25.58%
IN:MANALIPETC
Manali Petrochemicals Limited
63.80
-8.43
-11.67%
IN:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers Ltd.
403.65
63.01
18.50%
IN:TIRUMALCHM
Thirumalai Chemicals Limited
184.65
-98.15
-34.71%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.